DUBAI, UAE: Commercial Bank of Dubai, one of the leading banks in the UAE, announced that the bank is allowing foreign investment into its shares.
The bank has set a Foreign Ownership Limit (FOL) of 40% after completion of all regulatory formalities following the shareholders’ approval obtained during the Annual General Assembly Meeting of 11 March 2020.
The new FOL will enhance liquidity in the shares and will help accommodate interest from global investors.
“The bank has received substantial interest from foreign investors which was the main driver for us setting the FOL at the level announced today. It will allow us to broaden our investor base as well as sustain capital inflows in the UAE” said Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai.
“CBD has been supporting the UAE Economy over the past 5 decades and with this announcement, we are confident that we will continue supporting the UAE’s vision and goals to be one of the most attractive economies for foreign investment.” he added.